1997 Mitsubishi Eclipse Rs Hatchback 2-door 2.0l on 2040-cars

Auto blog

Mitsubishi reverses course on European exit with help from partner Renault

Mitsubishi will remain in some European markets after all, a surprise announcement from the company and its alliance partners Renault and Nissan confirmed early Wednesday. This is a reversal of what was expected after several rounds of restructuring were announced in 2020 as the company looked ahead to a $3.4 billion loss.  From the announcement, we can gather that Mitsubishi's survival on the continent comes care of its partners, who will supply vehicles that have already been approved for sale in Europe to be offered alongside the Mitsubishi Eclipse Cross plug-in hybrid. The announcement refers to them as "sister models [...] with differentiations," which could mean anything from typical platform-sharing to some old-fashioned badge engineering. Given the company-wide cost-saving efforts, we're inclined to believe it's more along the lines of the latter.  "Mitsubishi Motors has decided to procure OEM-model vehicles from Renault, best-sellers on the European market which already meet regulatory requirements, for selected major markets in Europe," the announcement said. "Starting 2023, Mitsubishi Motors will thus sell two 'sister models' produced in Groupe Renault plants, which are based on the same platforms but with differentiations, reflecting the Mitsubishi brand’s DNA." The Alliance has also not yet confirmed which markets will remain open to Mitsubishi, however Automotive News has confirmed that the UK will not be one of them. Mitsubishi has already launched its updated Eclipse Cross lineup, but the forthcoming PHEV has yet to be fully detailed. The company said it has no plans to bring it to the United States, where the Outlander PHEV has moved in only limited volume.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2022 Mitsubishi Outlander crossover SUV reveal

Nissan shares slide 5% after report Renault exploring stake reduction

TOKYO — Shares of Nissan Motor Co slumped 5% on Monday, their biggest fall in more than a month, following a report that top shareholder Renault may consider lowering its stake in the Japanese automaker. Bloomberg reported on Friday that Renault may consider lowering its Nissan shareholding as part of plans to separate its electric vehicle business. The French car maker has been pushing ahead with plans to split its electric and combustion-engine businesses in an attempt to catch rivals such as Tesla and Volkswagen On Friday, Renault said all options were on the table for separating the electric vehicle business, including a possible public listing in the second half of 2023. Any plans would be subject to approval from alliance partner Nissan, Renault finance chief Thierry Pieton said, adding the Japanese automaker was "in the loop" as Renault weighed up its options. Renault and Nissan have declined to comment on the report. Shares of Nissan fell to 509.8 yen in Tokyo, marking their biggest one-day decline since early March and underperforming an almost 2% drop in the Nikkei index. The car makers' two-decade-old alliance, which includes Mitsubishi Motors, was rocked by the 2018 ouster of alliance founder Carlos Ghosn amid a financial scandal. They have since pledged to pool more resources. In January they said they would work more closely together to make electric cars. They detailed a $26 billion investment plan for the next five years. But their unequal relationship has long been a source of friction in Japan. Renault owns 43.4% of Nissan, which in turn has a 15% non-voting stake in its shareholder. Renault bailed out Nissan two decades ago, but is now the smaller automaker by sales. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Green Mitsubishi Nissan Renault

Long-serving Mitsubishi president Masuko to step aside

Long-struggling Mitsubishi Motors is reportedly preparing for a changing of the guard at home. According to Reuters, Osamu Masuko will step aside in favor of Tesuro Aikawa, currently the company's managing director. Masuko won't be leaving the fold entirely, however - he will take the role of chairman, displacing Takashi Nishioka, who will resign. The shakeup has not been confirmed by Mitsubishi, but word is that the changes will take effect April 1.
Mitsu's US troubles are no secret, but the brand's struggles in its home market haven't been quite so publicized. The company was bailed out by other arms of the Mitsubishi empire, and it just raised $2 billion this month to buy back preferred shares that were issued during the bailout. Masuko served as president for nearly ten years, during which the brand's US efforts utterly stalled out, recalls cropped up in Japan and an alliance with Daimler (which was DaimlerChrysler at the time) disintegrated.
According to Reuters, establishing the kind of alliances that will allow the brand to grow, such as its tie-up with Renault-Nissan, are key to Mitsu's long-term success. The thought is that an alliance will allow the brand to come up with some innovative models that won't be compromised by its lack of production scale. It looks like Aikawa has his work cut out for him.